DID YOU KNOW

teralorraire
Jul 13, 2023
3 min read

Whether you're a first-time home buyer or seasoned buyer, there is always new situations and new questions that will pop up. My job is to answer them!

Here's a couple questions and answers to questions I've been asked this week.

One thing I am always reminding my clients of is "no question is too small". I am ALWAYS happy to answer any questions, not matter how small. And if I happen to not know the answer, I promise you I will dig until I do.

Can I back out from the inspection results?

Short answer is yes. If concerning items come up in inspection and you don't feel comfortable moving forward, you can back out. You also have the option to negotiate with the seller to fix things that came up in the inspection, and if you can't come to an agreement, again you can back out.

What is the difference between a Conventional Loan vs a FTHB Loan?

There are many differences when it comes to the loans, most of which depends on your financial situation. A big notice that typically comes up during the appraisal process is red flags. The bank flags things like chipped paint and broken windows, things that they have flagged will need to be repaired or replaced before they will let you close on the home.

This is typically something we will make note of right away when looking at homes if we know the type of loan you're using. These are things that we can negotiate with the seller.

Is it okay to go in with a lower offer?

This answer varies! My job as an agent is to asses the situation for each house and determine our best tactic.

For example, let's say you find a house you like and want to write up an offer. First we will look at how many days it's been on market, then I will reach out the listing agent and aske if they have any offers in hand.

If the answer is no, then I would say yes we go in below asking price, especially if its been sitting on the market for a bit. Obviously there is many other things to take into consideration when deciding how low; such as how much work needs to be done, is it overpriced, ect. This is where I work my magic.

If the answer is yes, then we asses. First how many offers there, second when are they reviewing offers. This is again where I work my magic and decipher where to start our offer and how high do we do our escalation clause up to.

Are you sure you want to show us?

I get asked this question a million times, you are never bothering me or inconveniencing me when asking me to see homes! I better than anyone will understand you have to see multiple homes to find YOUR home! I will always want you to compare homes and not settle.

Even if the home(s) turn out to be duds or your financing falls through, I will be here when then next home you love comes on the market and in 6 months when your financially in a better place!

I love my job and will be there through thick and thin until you find your safe space to call home.

When should we start looking?

In my opinion it is never too early to start looking. The more you look the more you narrow down what you're looking for, and the more detailed your no/yes list is.

As for when you should start talking with an agent/lender, my answer is the same. Any good agent/lender will be there to support you until you're ready, giving you the tools you need to be ready, even if it is a year from now.